Net Asset Value(s)

RNS Number:2507P
Govett European Tech & Inc Tst PLC
01 September 2003


The following are the estimated values based on mid market prices at the close of business on

29 August 2003:
                                                                Ordinary share NAV        Gross Assets (capital
                                                                (capital only)            only)
Govett European Technology & Income Trust PLC                   0.00p                     #1.40m*
                                                                Zero Dividend Preference  Preferred Income share
                                                                share NAV (capital only)  NAV
Govett European Technology & Income Trust PLC                   15.38p*                   0.00p

1 September 2003

* Following the announcement on Wednesday 11 June 2003 confirming that the
Proposals set out in the Company's circular dated 16 May 2003 ("The Proposals")
cannot proceed and the Company will not be wound up at this stage, the basis of
calculating the Company's estimated NAV has been amended. The previously
reported Capital Only NAV (calculated on a going concern basis, with reference
to the Company's articles of association) now includes the estimated costs
incurred by the Company in relation to The Proposals and the Company's unaudited
revenue account losses to 11 June 2003. It will continue to exclude all future
exceptional costs and revenue account losses, unless otherwise stated.


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